DIRS.INFO The most relevant business & tech news

☆ The Federal Reserve is likely to hike interest rates again. What that means for you
▼ + stars: | 2023-01-30 | by ( Jessica Dickler | ) www.cnbc.com time to read: +5 min

What the Fed's rate hike means for youThe federal funds rate, which is set by the central bank, is the interest rate at which banks borrow and lend to one another overnight. As the federal funds rate rises, the prime rate does, too, and credit card rates follow suit. After rising at the steepest annual pace ever, the average credit card rate is now 19.9%, on average — an all-time high. Student loans Federal student loan rates are also fixed, so most borrowers won't be impacted immediately by a rate hike. Savings accounts On the upside, the interest rates on some savings accounts are higher after a run of rate hikes.

The average overall personal loan rate this week is 21.05%, a slight uptick of two basis points from last week. Insider's Featured Personal Loan Companies LightStream Personal LoanMarcus Personal LoanSoFi Personal Loan Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. Fees 4.5/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star APR 6.99% to 24.99% Fees 4.25/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star APR Fixed rates from 7.99% APR to 23.43% APR APR reflect the 0.25% autopay discount and a 0.25% direct deposit discount. This week's rates Last week's rates Average overall rate 21.05% 21.03% Average low rate 10.10% 10.07% Average high rate 32.42% 32.42% Highest rate 155.00% 155.00% Lowest rate 5.91% 5.91%The lowest rate of the companies we track is from American Express, which has a minimum APR of 5.91%. Average personal loan rates by credit scoreThese rates are based on data from 124 borrowers who applied for loans and received rates.

Today, there are 54 Hispanic American banks and credit unions that are FDIC or NCUA insured around the US. We selected Hispanic American-owned credit unions from the National Credit Union Administration's list of minority depository institutions which was also updated in September 2022. In our list of Hispanic American-owned banks and credit unions, many of the institutions listed offer customer support in Spanish and English. You can open up savings accounts, checking accounts, CDs, and money market accounts in most of the institutions listed. To help you learn more about a specific Hispanic American-owned bank or credit union, we've included links to reviews of individual institutions.

☆ Here’s what the Federal Reserve’s half-point rate hike means for you
▼ + stars: | 2022-12-14 | by ( Jessica Dickler | ) www.cnbc.com time to read: +5 min

watch nowWhat the federal funds rate means for youThe federal funds rate, which is set by the central bank, is the interest rate at which banks borrow and lend to one another overnight. Consumers with an adjustable-rate mortgage or home equity lines of credit may also want to switch to a fixed rate. However, the average interest rate for a 30-year fixed-rate mortgage is around 6.33% this week — up more than 3 full percentage points from 3.11% a year ago. Federal student loan rates are also fixed, so most borrowers won't be impacted immediately by a rate hike. Thanks, in part, to lower overhead expenses, the average online savings account rate is closer to 4%, much higher than the average rate from a traditional, brick-and-mortar bank.

☆ What to do about the highest interest rate in 15 years
▼ + stars: | 2022-12-14 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +11 min

In its last policymaking meeting of the year, the Federal Reserve on Wednesday raised its benchmark interest rate for the seventh time in a row, to a range of 4.25% to 4.5%. Otherwise, any remaining balance will be subject to a new interest rate that could be higher than you had before if rates continue to rise. That said, “don’t jump into a large purchase that isn’t right for you just because interest rates might go up. If that’s not possible, consider paying off that balance by taking out a HELOC with another lender at a lower promotional rate, McBride suggested. The floating rate is tied to a short-term benchmark rate, such as the fed funds rate, so it will go up whenever the Fed hikes rates.

☆ The Federal Reserve is about to hike interest rates one last time this year. Here's how it may affect you
▼ + stars: | 2022-12-12 | by ( Jessica Dickler | ) www.cnbc.com time to read: +2 min

watch nowThe Federal Reserve is expected on Wednesday to raise interest rates for the seventh time this year to combat stubborn inflation. Why a smaller rate hike may be 'pretty good news'What the Fed's rate hike means for youAnother increase in the prime rate will send financing costs even higher for many other forms of consumer debt. On the flip side, higher interest rates also mean savers will earn more money on their deposits. Here's a breakdown of how increases in the benchmark interest rate have impacted everything from mortgages and credit cards to car loans, student debt and savings:1. As the federal funds rate rises, the prime rate does, as well, and these rates follow suit.

The average overall personal loan rate this week has gone up slightly. The rates on personal loans have been climbing steadily. You can get a personal loan for many reasons. Today's personal loan ratesAverage personal loan ratesWe've compiled a database of 28 personal loan products and averaged their rates so you know the current landscape. Average personal loan rates by credit scoreThese rates are based on data from 141 borrowers who applied for loans and received rates.

☆ More Americans Tap Home Equity for Financial Safety Net
▼ + stars: | 2022-11-16 | by ( Veronica Dagher | ) www.wsj.com time to read: 1 min

As high interest rates drive up the cost of borrowing money, more people are tapping the equity in their homes. Americans took out $66 billion in home-equity lines of credit, or HELOCs, in the second quarter, a 40% increase from a year ago and the largest amount in almost three years, according to data from real-estate analytics firm Attom Data Solutions. These accounts, which allow homeowners to borrow against the value of their house, are making a comeback as higher rates make it less favorable to refinance a mortgage.

☆ More Homeowners Using Helocs as Financial Safety Net
▼ + stars: | 2022-11-16 | by ( Veronica Dagher | ) www.wsj.com time to read: 1 min

As high interest rates drive up the cost of borrowing money, more people are tapping the equity in their homes. Americans took out $66 billion in home-equity lines of credit, or Helocs, in the second quarter, a 40% increase from a year ago and the largest amount in almost three years, according to data from real-estate analytics firm Attom Data Solutions. These accounts, which allow homeowners to borrow against the value of their house, are making a comeback as higher rates make it less favorable to refinance a mortgage.

☆ Homebuyers battling high mortgage rates could soon have a new option: sell a stake in their future home for as much as $250,000 toward a down payment
▼ + stars: | 2022-11-03 | by ( James Rodriguez | ) www.businessinsider.com time to read: +7 min

The next frontier: making similar investments to buyers who need help with a down payment. Down-payment investments could help them avoid those costs, which can amount to hundreds of dollars a month. So we're gearing up for that," Riccitelli said, adding that down-payment investments represented "a massive opportunity." Indeed, one of the industry's trailblazers, Unison, stopped offering down-payment investments earlier in the pandemic, choosing instead to focus on traditional home-equity agreements. "One of the big mortgage companies is going to have to get in on it," the executive added.

☆ What rising interest rates mean for your credit, loans, savings and more
▼ + stars: | 2022-11-02 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +11 min

“Interest rates have increased at the fastest pace in 40 years,” said Greg McBride, chief financial analyst at Bankrate.com. They’re offering far higher rates – with some topping 3% currently – and have been increasing them as benchmark rates go higher. At the most recent auction in October, for instance, the 5-year TIPS had an interest rate of 1.625%. Home loans: Lock in fixed rates nowMortgage rates have been rising over the past year, jumping more than three percentage points. That said, “don’t jump into a large purchase that isn’t right for you just because interest rates might go up.

☆ Here's what the Federal Reserve's fourth 0.75 percentage point interest rate hike means for you
▼ + stars: | 2022-11-02 | by ( Jessica Dickler | ) www.cnbc.com time to read: +7 min

The Federal Reserve raised the target federal funds rate by 0.75 percentage point for the fourth time in a row on Wednesday, marking an unprecedented pace of rate hikes. The federal funds rate, which is set by the central bank, is the interest rate at which banks borrow and lend to one another overnight. As the federal funds rate rises, the prime rate does, as well, and your credit card rate follows suit within one or two billing cycles. Still, it's not the interest rate but the sticker price of the vehicle that's causing an affordability problem, McBride said. Federal student loan rates are also fixed, so most borrowers won't be impacted immediately by a rate hike.

☆ Another interest rate hike from the Federal Reserve is on the way: Here's how it may affect you
▼ + stars: | 2022-10-31 | by ( Jessica Dickler | ) www.cnbc.com time to read: +5 min

watch nowWhat a rate hike means to youThe federal funds rate, which is set by the central bank, is the interest rate at which banks borrow and lend to one another overnight. From your credit card and car loan to mortgage rate, student debt and savings, here's a breakdown of some of the major ways rate increases impact you:1. Still, it's not the interest rate but the sticker price of the vehicle that's causing an affordability crunch, McBride said. It won't budge until next summer: Congress sets the rate for federal student loans each May for the upcoming academic year based on the 10-year Treasury rate. Of course, anyone with existing education debt should see where they stand with federal student loan forgiveness.

☆ 'Borrowers are feeling the squeeze' as interest rates climb while inflation remains high, chief financial analyst says
▼ + stars: | 2022-10-27 | by ( Jessica Dickler | ) www.cnbc.com time to read: +1 min

From credit cards to mortgages, it's suddenly a lot more expensive to borrow money. The Federal Reserve has raised its benchmark short-term rate 3 percentage points since March in an effort to curb unrelenting inflation, with another rate hike likely on the way next week. "Borrowers are feeling the squeeze from both sides as inflation has stretched household budgets while borrowing costs for homebuyers, car buyers and credit card borrowers have increased at the fastest pace in decades," said Greg McBride, chief financial analyst at Bankrate.com. And "with more rate hikes still to come, it will be a further strain on the budgets of households with variable rate debt, such as home equity lines of credit and credit cards," McBride said. Here's how increases in the benchmark interest rate have impacted the rates consumers pay on the most common types of debt, according to recent figures from Bankrate.

Average personal loan rates for borrowers with good credit scores (between 660 and 719) are down by 10% from two weeks ago, while rates for borrowers with excellent credit scores (720 and higher) and poor scores (less than 620) are up slightly. Compare Personal Loan RatesAverage personal loan ratesWe've compiled a database of 28 personal loan products and averaged their current rates so you see the current personal loans climate. Average personal loan rates by credit scoreThese rates are based on data from about 172 borrowers who applied for loans and received rates. Fees 4.5/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star APR 6.99% to 24.99% Fees 4.25/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star APR Fixed rates from 7.99% to 22.73% APR APR reflect the 0.25% autopay discount and a 0.25% direct deposit discount. Instead of small loans, you might find that a 0% APR credit card would be a better fit.

☆ Inflation and higher rates are a 'dangerous mix' for consumers already stretched thin, says chief financial analyst
▼ + stars: | 2022-09-23 | by ( Jessica Dickler | ) www.cnbc.com time to read: +1 min

"Interest rates are going up at the fastest pace that any of us have seen in our adult lives," said Greg McBride, chief financial analyst at Bankrate.com. "Credit card rates are the highest since 1995, mortgage rates are the highest since 2008 and auto loan rates are the highest since 2012." But it's the combination of higher rates and inflation that have hit consumers particularly hard, he added. "With more rate hikes still to come, it will be a further strain on the budgets of households with variable rate debt, such as home equity lines of credit and credit cards," he said. Here's how Fed hikes this year have impacted the rates consumers pay on the most common types of debt, according to recent figures from Bankrate.

☆ America’s dependence on credit cards is growing. The Fed’s rate hike will make it more painful
▼ + stars: | 2022-09-22 | by ( Martha C. White | ) edition.cnn.com time to read: +7 min

CNN —As prices continue to rise, Americans are becoming increasingly reliant on credit cards to make purchases. “The effect on existing credit card borrowers is probably actually worse,” he said, because of the rate hikes the Fed has undertaken already this year. Credit cards were a big cause of that: In the second quarter, 233 million new credit accounts were opened, the largest increase since 2008. Of the new debt that accumulated during that quarter, $46 billion was credit card debt. Credit bureau TransUnion found that there are more credit cards today, and there is more debt on those cards.

☆ What rising interest rates mean for you
▼ + stars: | 2022-09-21 | by ( Jeanne Sahadi | Cnn Business | ) edition.cnn.com time to read: +11 min

"Credit card rates are the highest since 1995, mortgage rates are the highest since 2008, and auto loan rates are the highest since 2012. Here are a few ways to situate your money so that you can benefit from rising rates, and protect yourself from their downside. "Less debt and more savings will enable you to better weather rising interest rates, and is especially valuable if the economy sours." That said, "don't jump into a large purchase that isn't right for you just because interest rates might go up. "It's not just rising rates and inflation, there are geopolitical concerns going on... And we have a slowdown that may lead to a recession or maybe it won't...

☆ What rising interest rates mean for your credit, loans, saving and more
▼ + stars: | 2022-09-21 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +11 min

“Credit card rates are the highest since 1995, mortgage rates are the highest since 2008, and auto loan rates are the highest since 2012. Home loans: Lock in fixed rates nowMortgage rates have been rising over the past year, jumping more than three percentage points. That said, “don’t jump into a large purchase that isn’t right for you just because interest rates might go up. For example, financial service companies can do well in a rising rate environment because, among other things, they can make more money on loans. Bonds: Go shortTo the extent you already own bonds, the prices on your bonds will fall in a rising rate environment.

☆ Here's what the Federal Reserve's third 75-basis point interest rate hike means for you
▼ + stars: | 2022-09-21 | by ( Jessica Dickler | ) www.cnbc.com time to read: +6 min

The federal funds rate, which is set by the U.S. central bank, is the interest rate at which banks borrow and lend to one another overnight. As the federal funds rate rises, the prime rate does, as well, and your credit card rate follows suit within one or two billing cycles. "A 0% balance transfer credit card may be your best weapon in the battle against credit card debt and rising interest rates," he advised. Federal student loan rates are also fixed, so most borrowers won't be impacted immediately by a rate hike. Of course, anyone with existing education debt should check whether they are eligible for federal student loan forgiveness.

☆ Another interest rate hike is coming from the Federal Reserve: Here's how it could affect you
▼ + stars: | 2022-09-19 | by ( Jessica Dickler | ) www.cnbc.com time to read: +6 min

The U.S. central bank has already raised interest rates four times this year, for a total of 2.25 percentage points. As the federal funds rate rises, the prime rate does as well, and credit card rates follow suit. Student loans The interest rate on federal student loans taken out for the 2022-2023 academic year already rose to 4.99%, up from 3.73% last year and 2.75% in 2020-2021. It won't budge until next summer: Congress sets the rate for federal student loans each May for the upcoming academic year based on the 10-year Treasury rate. Of course, anyone with existing education debt should check whether they are eligible for federal student loan forgiveness.

Today, there are 56 Hispanic American banks and credit unions that are FDIC or NCUA insured around the US. We selected Hispanic American-owned credit unions from the National Credit Union Administration's list of minority depository institutions which was also updated on June 30, 2022. In our list of Hispanic American-owned banks and credit unions, many of the institutions listed offer customer support in Spanish and English. You can open up savings accounts, checking accounts, CDs, and money market accounts in most of the institutions listed. To help you learn more about a specific Hispanic American-owned bank or credit union, we've included links to reviews of individual institutions.

However, closing a student-loan account after loan forgiveness may ding your credit score initially. What does student-loan forgiveness mean for your credit score? Additionally, your credit mix accounts for 10% of your credit score and is made up of both revolving and installment credit. Your payment history makes up a significant percentage of your credit score, and lenders prefer to see consistent and reliable past payments. The bottom lineWhile some borrowers may see their credit score take a short-term hit after student-loan forgiveness, the financial benefits far outweigh any negative impact.

Persons: Biden, —, Biden's, Chris Ebeling, Ebeling, you've, Gabe Krajicek, Kasasa Organizations: Service, Pell, Federal, Citizens Bank

Types of loans Conventional, FHA, VA, USDA, Arrive Home, Zero Down, jumbo, construction, refinancing, reverse mortgagesTerms 15 to 30 yearsCredit needed 540 for FHA, VA and USDA loans; 600 for Zero Down; 620 for conventional loans, 680 for jumbo loans. Standout benefits: You can be approved for a conventional mortgage with as little as 3% down and no mortgage insurance. Types of loans offered: The most common kinds of mortgage loans include conventional loans, FHA loans and VA loans. The most common kinds of mortgage loans include conventional loans, FHA loans and VA loans. After reviewing the above features, we sorted our recommendations by best for no down payment, affordability, no lender fees, low-income borrowers, VA loans, USDA loans and online lenders.

Persons: Ally, Freddie Mac, Chase DreaMaker, Chase Bank's DreaMaker, Chicago —, Chase, Homebuyers, Federal's, J.D, Powers, JD Powers, HomeOne, Power's, Fannie Mae Organizations: FHA, USDA, NAF, Bank, Ally, Chase Bank, Standard Agency, Chase, Chicago, Federal Credit, Navy, Navy Federal Credit Union, Navy Federal, PNC Bank, DC, PNC Community Loan, PNC, U.S . Department of Agriculture, Rocket Mortgage, Card, Rocket, U.S, Mortgage Guild Mortgage, Homebuyer, Better Business Bureau, JD, Better, Chase Bank Chase Bank, Federal Credit Union Navy Federal Credit Union, Defense Department, Bank PNC Bank, . Mortgage, Mortgage, Reserves National Guard, National Association of Realtors, CNBC, Federal, CNBC Select's, Facebook, Twitter Locations: VA, New York, Philadelphia, Detroit, Charlotte, North Carolina, New York City, Los Angeles, Atlanta, Washington, U.S, Oregon, Hawaii

If you're looking for a jumbo loan, here are four mortgage lenders you should consider. Types of loans offered: The most common kinds of mortgage loans include conventional loans, FHA loans and VA loans. The most common kinds of mortgage loans include conventional loans, FHA loans and VA loans. Fees: Common fees associated with mortgage applications include origination fees, application fees, underwriting fees, processing fees and administrative fees. Common fees associated with mortgage applications include origination fees, application fees, underwriting fees, processing fees and administrative fees.

Search resuls for: "Equity Lines of"

25 mentions found